Former U.S. Senator, Treasury Secretary Nicholas F. Brady Joins WHOA

by | 05.08.2017 | 9:52am
Nicholas F. Brady

Nicholas F. Brady, who served as a United States Senator from New Jersey and later as the Secretary of Treasury (1988-1993), has also been a prominent and active Thoroughbred owner and breeder for more than five decades.

Mr. Brady became a member of The Jockey Club in 1966 and has been one ever since, with the exception of the time he was serving as Secretary of Treasury. He has also served as a steward of the breed registry (1972-1982), as vice chairman (1972-1974) and as chairman (1974-1982).

Mr. Brady has bred and raced horses with his brother, James Cox Brady, Jr. and his two sisters, Mrs. Reuben Richards and Mrs. Eliot Stewart, in the name of Mill House. Among their graded stakes winners have been America Alive, Brilliant, Hour Glass and, most recently, Trappe Shot. He continues to race today in the U.S. and Ireland in partnership with his daughter, Kim Brady Cutler.

Both his grandfather and his father, James Cox Brady, were also prominent Thoroughbred owners and breeders. His father served as chairman of the New York Racing Association for eight years and oversaw the opening of a new Aqueduct Racetrack, a new Belmont Park and a refurbishment of Saratoga Race Course. James Cox Brady also served in executive capacities for The Jockey Club and the Thoroughbred Racing Associations.

Nicholas F. Brady was born in New York City on April 11, 1930, and he resides in Oldwick, NJ.

He graduated from Yale University in 1952 and Harvard Business School in 1954.

An investment banker by profession, Mr. Brady enjoyed a 34-year career at Dillon Read & Co., serving as chief executive officer for 17 of those years.  He is also the former chairman of Darby Overseas Investments, Ltd., and a former director of numerous Franklin Templeton Funds.  Mr. Brady is a director of Holowesko Partners Ltd.

During his tenure as Secretary of the Treasury, he designed and implemented “The Brady Plan” to solve the Latin America debt crisis and is credited with resolving the savings and loan industry crisis. He headed the Presidential Task Force on Market Mechanisms in 1988 following the market crash of 1987 that lead to the introduction of market-based circuit breakers by the New York Stock Exchange and the Chicago Mercantile Exchange.

Brady issued the following statement:

“It is becoming increasingly obvious that we are at war on the issue of medication, … at war among ourselves. We will lose that war by default if every organization in racing continues to forge its own consensus on medication. The time has come for us to end our internal disputes and come together to find an equitable solution to this program. I recognize that it is a complicated program and that feelings are strong and polarized. But if our industry wants to control its own destiny, … we must develop support for an industry wide medication policy and then take effective actions to restore public confidence in racing.”

I said this 37 years ago and it is even more important today.

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